Mobile Home Insurance: Factors To Determine The Cost Of An Insurance Policy

Mobile Home Insurance: Factors To Determine The Cost Of An Insurance Policy

If you are looking for a mobile home insurance policy, you should consider the factors when making your purchase such as cost & coverage features. To get the right coverage, you need to find the best-manufactured home insurance policy for your property. First, you need to understand mobile home insurance.

What is mobile home insurance?

A mobile home also known as the manufactured house is developed by manufacturers and delivered to a home website. As mobile houses are different from houses built on-site, there are unique features so, the insurance needs are different. 

Manufactured home insurances have some similarities to homeowners insurance policies. Mobile home insurance comes with two main categories of protection such as personal liability & coverage. It protects you from lawsuits related to damages to another’s property and dwelling coverage which applies to damage to your structure. 

What does mobile home insurance cover?

Coverage can vary considerably from provider to provider. Make sure you compare different quotes to see who offers the coverage you need at the best rate.

1 - Dwelling coverage

Dwelling coverage protects the property’s physical structure. It covers several things such as the roof, fixed deck, and walls of your manufactured house. The recommended minimum coverage for a manufactured housing insurance policy is $30,000 for a single-unit mobile home or $45,000 for a double-wide mobile home.

2 - Personal property coverage

While house coverage protects your home’s real structure, personal property coverage is what projects your belongings inside. Your property coverage will pay for the repair. It includes events such as theft, fire, or wind damage. 

3 - Personal liability coverage

Personal liability coverage will provide essential support should someone become hurt on your property. Many new mobile homes are made to ADA standards for accessibility. Most insurance policies offer around $300,000 in liability. However, it is a good idea to impact your coverage to $500,000 for a mobile home insurance policy. 

Factors to consider mobile home insurance costs

Several factors can affect the cost of mobile home insurance:

• Location
• Mobile home size
• Value of your personal property
• Age of the mobile home
• Insurance coverages you choose
• Your credit history
• Materials used to build the home
• Discounts for security features

As per Farmers Insurance, the price of a mobile home insurance policy ranges from $490 to $800 per year. 

The Final Thought!

Well-maintained houses in desired locations are often appreciated every year. If you are looking for the best insurance company for your mobile homes, Jaco Sales LLC is the right option. 

Your manufactured home policy will offer comprehensive coverage that offers you covered damages for everything life gives. Due to their enhanced exposure, manufactured houses are considered high-risk to insurers. But it doesn’t mean you need an expensive insure for your house. 

For a more mobile home insurance policy, you can contact us today!